Olshan Represents Vicon Industries in the Refinancing of Its Credit Facility with NIL Funding Corp.
The Firm represented client Vicon Industries, Inc. (OTCQB: VCON), a Hauppauge, NY provider of mission-critical security surveillance systems, in connection with the refinancing of its credit facility with NIL Funding Corporation, an institutional lender. The new $5.6 million term loan, completed on an expedited basis on September 21, 2018, replaced the $5.8 million outstanding balance on its existing revolving line of credit. The new loan is secured by a first priority security interest in substantially all of the assets of Vicon Industries and its subsidiaries. The transaction was brought in by corporate partner Spencer Feldman, and led by partner Jason Saltsberg, with associate Sarah Matchett contributing to the effort.